Opinion: Bank Wars

This transcript has been automatically generated and may not be 100% accurate.

... welcome back to Opinion Journal I'd ... well bankers are most popular people out there just now but know the bankers ability to tee off on one another ... small banks and big banks that got into a major plague all remember just a program created during the two thousand and eight financial crisis ... care to referee a forces Journal says the intro page the system editor James Freeman ... to their good decisions and what exactly have got the banker said the Childers tropes ... we mention bankers are not the most popular people so it's a shocking that right now Washington right before an election might actually be extending a ... another gift of banks which is a ... basically ... universal coverage insurance on all non interest bearing deposits ... the third deposits that extend beyond the ... usual two hundred fifty thousand FDIC one that fits right in its mainly accompanies us on munis probably some individuals but it's basically we're businesses keep their money and temporarily we were told the crisis of this is that to be covered by insurance but the ... there's an effort afoot to ... extend this for two years I've been think some people wanted permanently in its basically ... it's interesting it's a lot of small banks saying they want this cuz it helps them to be with the big guys but most of the benefits are the big banks does that's where most of the money but the big banks but we don't want the ... insight into the mix of certain some of them don't but some of them to the trade group ended up saying yes we want this but there's a lot of grumbling ... among ... big bang members of these trade associations and small banks as well because they know that along with ... his benefit it is a taxpayer subsidy you also get a lot more regulation ... or oversight ... you get all of the things that happen when politicians are heavily involved in the allocation of credit ... the apparel and it got about three legislative weeks to get this done this not going to be easy ... people forget ... Hawker unpopular bankers are now ... mainstream banks use the one most powerful forces on Capitol ... Hill are still on and that's why is it transferred to have to be worried because it seems like this is can be a ... sorta like a male and a really tough for them to go off the balance beam in the Olympics but ... but but given the cloud ... the possibility that the kid that JM into what's called a continuing resolution to keep the government running as in the September ... some kind of out ... of favor to the banks ... yet to be concerned about it the ended but this tree is this temporary measure James getting extended so you are the top twenty seconds this be clear ... the guarantee is for deposits that ... extend beyond two hundred fifty thousand although noninterest Fernandez is on limited some of ... the dollar limit taxpayer seven and for that liability ...